Price Changes in the Housing Market: October 2023
20 November, 2023 |
3 weeks ago
Jerusalem, 20 November, 2023 (TPS) -- Israel’s Central Bureau of Statistics conducted a comparison of the transaction prices for homes in August 2023 – September 2023 to the transaction prices in July 2023 – August 2023, which showed that home prices remain unchanged.
A comparison of the transaction prices in the current period, to the transaction prices in the same period last year August 2023 – September 2023 compared to August 2022 – September 2022, shows that home prices decreased by 0.2%.
Home Price Indices by Districts (quality-adjusted price changes)
A comparison of the transaction prices in August 2023 – September 2023 to the transaction prices in July 2023 – August 2023, shows that the prices of dwellings by districts changed as follows: Jerusalem (-.1%), Northern (0.3%), Haifa (0.3%), Central (0.4%), Tel Aviv (-0.4%) and Southern (-0.1%).
Newly-built Homes Price Index (quality-adjusted price changes):
A comparison of the transaction prices of newly-built dwellings in August 2023 – September 2023 to the transaction prices in July 2023 – August 2023 shows that newly-built dwelling prices remain unchanged. Government-supported transactions that are included in the calculation of the newly-built dwellings price index increased constituting 34.5% of the number of new dwelling transactions, compared to 33.2% in the previous period. Note that the rate of government-supported transactions is mostly negatively correlated to the new dwelling price index.
Additional estimation shows that excluding government-supported transactions, the newly-built dwelling price index decreased by 0.6%.
